United Fire Group, Inc. (UFCS)

United Fire Group Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Net Income	111.28	61.96	-29.7	15.03	80.59	-112.71
Depreciation & Amortization	10.34	10.9	10.51	7.67	6.57	6.66
Gain (Loss) on Sale of Investments	5.76	10.43	5.55	24.62	-33.79	42.84
Stock-Based Compensation	7.73	5.52	3.25	2.83	3.44	4.99
Change in Accounts Receivable	88.05	13.99	-99.06	-48.96	0.52	40.34
Reinsurance Recoverable	16.91	-7.56	-52.32	-43.14	32.73	-88.17
Change in Unearned Revenue	41.39	72.06	75	34.66	-25.11	-40.32
Change in Income Taxes	13.9	7.28	9.96	0.96	33.82	-47
Change in Deferred Taxes	-0	-0	-	-0.65	-0.46	7.52
Change in Insurance Reserves / Liabilities	87.13	158.03	141.48	-16.99	-63.87	156.38
Change in Other Net Operating Assets	-55.86	-19.61	21.62	9.71	-44.22	-6.67
Other Operating Activities	-5.01	47.99	107.77	25.8	44.04	55.29
Operating Cash Flow	306.2	340.3	171.74	-1.25	29.92	41.44
Operating Cash Flow Growth	48.47%	98.16%	-	-	-27.80%	-55.80%
Capital Expenditures	-8.73	-11.87	-10.89	-2.14	-13.98	-18.86
Investment in Securities	-274.25	-280.62	-130.86	-16.93	45.71	-68.45
Investing Cash Flow	-282.98	-292.49	-149.89	-19.17	31.73	-92.87
Long-Term Debt Issued	-	70	-	-	-	50
Total Debt Repaid	-1.1	-3.05	-	-	-	-
Net Debt Issued (Repaid)	28.9	66.95	-	-	-	50
Issuance of Common Stock	0.35	0.35	-	0.83	-	-
Repurchases of Common Stock	-	-	-	-	-2.01	-2.74
Common Dividends Paid	-16.28	-16.21	-16.16	-15.86	-15.06	-28.53
Other Financing Activities	0.18	-	-0.29	-	-0.42	-0.07
Financing Cash Flow	13.15	51.09	-16.45	-15.03	-17.49	18.66
Net Cash Flow	36.37	98.9	5.4	-35.45	44.16	-32.77
Free Cash Flow	297.47	328.43	160.85	-3.39	15.94	22.57
Free Cash Flow Growth	52.97%	104.19%	-	-	-29.38%	-63.19%
Free Cash Flow Margin	21.97%	26.21%	14.68%	-0.35%	1.49%	2.11%
Free Cash Flow Per Share	11.34	12.67	6.37	-0.13	0.63	0.90
Cash Interest Paid	10.46	7.17	3.26	3.19	3.19	-
Cash Income Tax Paid	33.2	16.11	1.35	21.55	5.36	0.14
Levered Free Cash Flow	290.94	-946.41	84.49	-39.51	4.5	-102.36
Unlevered Free Cash Flow	297.55	-941.86	86.52	-37.52	6.49	-102.36
Change in Working Capital	176.1	203.5	74.37	-77.2	-70.95	29.28

Updated Nov 4, 2025. Source: S&P Global Market Intelligence. Insurance template. Financial Sources.

SEC Filings: 10-K · 10-Q